Agreed it is abit of a slap in the face to existing share...

Agreed it is abit of a slap in the face to existing share holders though i think you will find the reason why it ran 25% in a week and abit was that the instos doing the placement ramped the stock so that it can occur at the price it did - this happens all the time in the markets

Short term i think the placement will have a cap on the stock though i think it will just get back down to where it was 2 weeks ago. It's getting added into the ASX200 on the 20ths so i think there will be a large insto takeup by fundies (just a shame they didn't have to buy it on market,they just get handed it at a nice price to siton). Also AEP is putting out its hand for another large stake which is a positive sign. Fundamentally its a positve move for IBA indeed - just a shame that in the short term there will be a cap on the stock